Zamil Industrial turns to SAR 13.1 mln profit in 9M 2021

28/10/2021 Argaam Exclusive

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Zamil Industrial Investment Co. reported a net profit after Zakat and tax of SAR 13.1 million for the first nine months of 2021, versus a net loss after Zakat and tax of SAR 125.63 million in a year-earlier period.

The profit was driven by increased sales from the steel segment, lower operating expenses, higher other income and improved gross profit as well as operating margins.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	2,424.47	2,623.62	8.2 %
Gross Income	305.18	405.91	33.0 %
Operating Income	(59.37)	47.46	180.0 %
Net Income	(125.63)	13.12	110.4 %
Average Shares	60.00	60.00	-
EPS (Riyals)	(2.09)	0.22	110.4 %

Zamil reported a net profit after Zakat and tax of SAR 852,000 in Q3 2021, versus a net loss after Zakat and tax of SAR 38.5 million in a prior-year period, due to increased sales of the steel business division, improved gross profit, higher operating margins and lower financial charges.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	824.39	827.02	0.3 %
Gross Income	107.04	135.83	26.9 %
Operating Income	(13.78)	13.97	201.4 %
Net Income	(38.50)	0.85	102.2 %
Average Shares	60.00	60.00	-
EPS (Riyals)	(0.64)	0.01	102.2 %

Item	Q2 2021	Q3 2021	Change‬
Revenues	847.42	827.02	(2.4 %)
Gross Income	132.05	135.83	2.9 %
Operating Income	15.12	13.97	(7.6 %)
Net Income	7.07	0.85	(87.9 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	0.12	0.01	(87.9 %)

On a sequential basis, net profit dropped 87.9% from SAR 7.01 million in Q2 2021.

Total shareholders’ equity, excluding minority equity, inched down 0.47% year-on-year (YoY) to SAR 1.145 billion in the nine-month period.

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